Ransacked after two world wars, the tiny nation of
Liechtenstein spent much of the first half of the 20th century decidedly
strapped for cash. The European country was struggling to get by as a mostly
agriculture-based economy, leaving its ruling family forced to sell off its Old
Master paintings to the highest bidder.
Now, Liechtenstein, which today (Jan. 23)
celebrates the 300th anniversary of the principality’s creation, is thriving.
The country is the world’s richest country per capita, driven by a 12.5%
corporate tax rate—among the lowest in the continent—and freewheeling
incorporation rules resulting in many holding companies establishing offices in
the country’s capital, Vaduz.